The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $38,948 in December 2019. New-vehicle prices increased $656 (up 1.7%) from December 2018, while falling $80 (down 0.2%) from last month.
“New vehicle transaction prices finished the year on a high note, with the average rising nearly 2% and approaching the record set in November 2019,” said Tim Fleming, analyst for Kelley Blue Book. “However, as retail demand fell in 2019, dealer discounts grew, approaching 7% of MSRP in December – the highest since July 2009. On a positive note, the discounts appear to be working as the average days in inventory fell by two days from the previous month. With sales expected to be down in 2020, anticipate the pressure to continue on new-car prices and incentives.”